Mirae Asset Global Investments Co. Ltd. Has $16.22 Million Position in SFL Co. Ltd. (NYSE:SFL)

Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of SFL Co. Ltd. (NYSE:SFL - Free Report) by 64.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,437,802 shares of the shipping company's stock after purchasing an additional 564,675 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned approximately 1.04% of SFL worth $16,218,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in SFL. Millennium Management LLC grew its position in shares of SFL by 122.8% during the second quarter. Millennium Management LLC now owns 1,806,492 shares of the shipping company's stock worth $17,144,000 after acquiring an additional 995,497 shares during the last quarter. Norges Bank acquired a new position in SFL during the 4th quarter valued at about $9,178,000. Dimensional Fund Advisors LP grew its position in SFL by 13.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 7,446,582 shares of the shipping company's stock worth $70,741,000 after purchasing an additional 868,813 shares during the last quarter. International Assets Investment Management LLC increased its stake in shares of SFL by 1,021.5% in the fourth quarter. International Assets Investment Management LLC now owns 657,672 shares of the shipping company's stock valued at $7,419,000 after purchasing an additional 599,029 shares during the period. Finally, FMR LLC raised its holdings in shares of SFL by 36.0% during the second quarter. FMR LLC now owns 2,148,989 shares of the shipping company's stock valued at $20,394,000 after buying an additional 568,675 shares during the last quarter. 28.59% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on SFL. BTIG Research increased their price objective on SFL from $13.00 to $15.00 and gave the stock a "buy" rating in a report on Wednesday, March 20th. StockNews.com lowered SFL from a "buy" rating to a "hold" rating in a report on Wednesday, March 20th. Three equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $12.00.

SFL Price Performance

Shares of SFL traded up $0.25 during midday trading on Thursday, reaching $12.80. The stock had a trading volume of 754,806 shares, compared to its average volume of 753,552. The company has a debt-to-equity ratio of 1.65, a current ratio of 0.31 and a quick ratio of 0.30. The company has a market capitalization of $1.77 billion, a P/E ratio of 19.39 and a beta of 0.66. The firm's 50 day moving average price is $12.94 and its 200-day moving average price is $11.90. SFL Co. Ltd. has a 52 week low of $8.43 and a 52 week high of $13.74.

SFL (NYSE:SFL - Get Free Report) last issued its quarterly earnings results on Wednesday, February 14th. The shipping company reported $0.30 EPS for the quarter. SFL had a net margin of 11.16% and a return on equity of 8.04%. The firm had revenue of $209.57 million for the quarter.

SFL Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were given a $0.26 dividend. This is a positive change from SFL's previous quarterly dividend of $0.25. The ex-dividend date was Thursday, March 14th. This represents a $1.04 annualized dividend and a yield of 8.13%. SFL's payout ratio is 157.58%.

About SFL

SFL Corporation Ltd., a maritime and offshore asset owning and chartering company, engages in the ownership, operation, and chartering out of vessels and offshore related assets on medium and long-term charters. The company operates in various sectors of the maritime, and shipping and offshore industries, including oil transportation, dry bulk shipments, chemical transportation, oil products transportation, container transportation, car transportation, and drilling rigs.